Top Best Tax Saving Mutual Funds to invest upon, Every one get a very difficult situation when he/she has to pay taxes on his/her hard earning money. Although paying taxes is good for the growth of economy as well as for development of country and I must suggest everyone to pay taxes.
Anyway Moral science over and now the important question, What are Tax Saving Mutual Fund and Which One is best ? Should I invest in Tax Saving ELSS ? etc.
What Are Tax Saving Mutual Funds ?
A Tax saving mutual funds are generally a scheme that invest someone money in equities or equities related securities. According to Indian Law such investment must be for period of Three Years under Lock in.
Such Investment in Equity for Lock in period is also known as Equity Linked Savings Scheme (ELSS). ELSS Investment are relieved from Income Tax deduction as per Section 80C of Income Tax Act Up To Maximum of Rs 100,000.
Now Have A Look At SOme of Top Performing ELSS Tax Saving Funds ?
Franklin India Taxshield :
This fund was Launched in April 1999, this tax savings mutual fund has Five Star Rating which has given a return of 11.99% in last Three years with CAGR of 26% for the last 13 years.
ICICI Prudential Tax Plan
This fund was Launched in 1999,This 5 Star Tax Saving ELSS fund has given the return of 11.5% in previous three years with CAGR of 23% from inception.
Religare Tax Plan
This fund was Launched in December 2006.This four star Tax Saving ELSS fund has three years return of 10.50% with a CAGR of 12% for the last 6 years.
HDFC Tax Saver
This is among oldest tax saving instrument. This three star Tax saving ELSS fund has three year returns of 8.71% with CAGR of 21% all time.
Canara Robeco Equity Tax Saver Regular
What I believe that this is good fund to choose from.This fund was started in year 1993. This Tax saving ELSS fund has three year return of 10.20% with all time CAGR of 15%.
We have provided the details based on the returns and CAGR. Investment is entirely one’s wish. Research insensitively before investing in any of these funds. If any query Just ask it here below.